New operators run up the hefty bill repainting trains and printing new stationery - then pass on costs to the public in rip-off fares.

The study comes as passengers today face price hikes of up to 11 per cent. One of the worst offenders is Arriva, which raised some fares seven per cent - after its takeover of the CrossCountry franchise is thought to have cost £20million.

Costs included putting new livery on trains and issuing new uniforms and stationery, a study by Railway magazine says.